Equities Analysts Offer Predictions for TSE:CTS Q4 Earnings

Converge Technology Solutions Corp. (TSE:CTS) – Analysts at Ventum Cap Mkts cut their Q4 2024 earnings per share (EPS) estimates for shares of Converge Technology Solutions in a research note issued on Wednesday, November 13th. Ventum Cap Mkts analyst R. Goff now expects that the company will post earnings per share of $0.05 for the quarter, down from their previous forecast of $0.09. The consensus estimate for Converge Technology Solutions’ current full-year earnings is $0.69 per share. Ventum Cap Mkts also issued estimates for Converge Technology Solutions’ Q1 2025 earnings at $0.05 EPS.

CTS has been the subject of several other research reports. Cormark downgraded shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. National Bank Financial downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, CIBC cut their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.86.

Converge Technology Solutions Stock Down 1.4 %

Shares of CTS opened at C$3.55 on Friday. The company has a market cap of C$692.96 million, a PE ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The business has a fifty day moving average of C$4.07 and a 200 day moving average of C$4.44. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 28th. Stockholders of record on Tuesday, December 10th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.69%. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.

Insider Transactions at Converge Technology Solutions

In related news, Senior Officer Greg Berard purchased 10,105 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$4.42 per share, for a total transaction of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.